Piper Sandler Maintains Overweight on Axsome (AXSM), Sees Growth in AD-Agitation

Core Insights - Axsome Therapeutics Inc. is recognized as one of the top biotech stocks to consider for investment, with Piper Sandler maintaining an Overweight rating and a price target of $148 for its shares [1][2] - The company is focused on commercial support for its product Auvelity, particularly in the treatment of major depressive disorder (MDD) and potential expansion into agitation associated with Alzheimer's disease [1][2] Financial Outlook - Management is preparing for a supplemental New Drug Application submission this quarter, which is expected to lead to increased sales and marketing expenditures, including workforce expansion related to the anticipated label expansion for AD-agitation [2] - Despite the rising costs, Piper Sandler anticipates strong operating leverage over time due to significant market opportunities in both MDD and AD-agitation, along with favorable payer access for Auvelity in the MDD market [2] Company Profile - Axsome Therapeutics Inc. is a clinical stage biopharmaceutical company dedicated to developing novel therapies for central nervous system disorders [3]